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Thursday, January 23, 2014

Report: Exterior Remodeling Offers Largest Return on Investment

If you’re looking to do some home improvement projects this year, sprucing up
the outside of your home is going to give you the biggest bang for your buck,
according to the 2014
Remodeling Cost vs. Value report released this month.

The report, an annual collaboration between Remodeling magazine and REALTOR®
Magazine, compares the average cost for 35 popular remodeling projects with the
value those projects retain at resale in 101 U.S. cities.

Eight of the top 10 most cost-effective projects nationally, in terms of
value recouped, are exterior projects.
“With many factors to consider such as cost and time, deciding what
remodeling projects to undertake can be a difficult decision for homeowners,”
said National Association of REALTORS® President Steve Brown,
co-owner of Irongate, Inc., REALTORS® in Dayton, Ohio.
“REALTORS® know what home features are important to buyers in their
area, but a home’s curb appeal is always critical since it’s the first
impression for potential buyers.”

A steel entry door replacement was deemed the project expected to have the
biggest return on investment, with an estimated 96.6 percent of costs recouped
upon resale. This particular remodel project is consistently the least expensive
in the annual Cost vs. Value Report, at around $1,100 on average.

Excited to dive in? Here are the top 10 cost-effective improvements from this
year’s report: